Group 1 - The insurance sector has entered a valuation recovery phase since 2025, with a cumulative increase of 31.31% in the insurance sector, continuing strong momentum into 2026, driven by improved capital market sentiment and rising equity markets, leading to a collective strength in insurance stocks, with major companies like China Ping An reaching multi-year highs [1][7]. - The new individual insurance premium growth for major insurers such as China Life, Ping An, Taikang, and Xinhua has exceeded expectations, with first-day growth rates reaching 40-60%, driven by the "deposit migration" effect, product structure optimization, and the ongoing reinforcement of anti-involution policies in the insurance industry [1][8][16]. Group 2 - Regulatory measures have opened up space for asset-side expansion, with significant potential for increasing equity allocation by insurance funds. The total investment return rate for listed insurance companies has shifted to a range of 5%-6%, with a systematic increase in investment yield driven by regulatory policy collaboration [2][22]. - The insurance sector is expected to benefit from the recovery of the real estate market, with improved financing conditions for property companies and a narrowing of credit risk premiums, enhancing the valuation framework for the insurance sector [2][27]. Group 3 - The recent strong performance of the insurance sector reflects a resonance repair driven by multiple positive factors on both the asset and liability sides. The "deposit migration" trend has brought continuous incremental premiums, while the adjustment of product interest rates has effectively controlled long-term cost pressures [3][27]. - The regulatory adjustments have significantly expanded the equity allocation space for insurance funds, allowing for a more flexible allocation of equity assets and enhancing overall portfolio returns [21][22].

Core Viewpoint - The 2025 China Enterprise ESG "Golden Responsibility Award" aims to recognize companies that excel in environmental, social, and governance (ESG) practices, promoting sustainable development in China [1][4]. Group 1: ESG Award Overview - The award selection process began in November 2025, attracting over 5,000 companies to participate [5]. - The evaluation criteria included comprehensive ESG performance, professional scoring, and online voting results [5]. - The award is intended to encourage more companies to enhance their ESG capabilities and contribute to high-quality development in China [2][5]. Group 2: Award Recipients - The "Best Responsible Investment Insurance Company" award was given to China Life Insurance, China Pacific Insurance, China Reinsurance, Sunshine Insurance, China People's Insurance, and China Ping An [2][5]. - The award committee congratulated the winning companies and expressed hope for them to lead by example in improving ESG performance [2][5]. Group 3: ESG Rating Center Introduction - The Sina Finance ESG Rating Center is the first Chinese platform dedicated to ESG information and ratings, promoting sustainable development and responsible investment [3][6]. - The center aims to establish ESG evaluation standards suitable for China's characteristics and enhance corporate ratings [3][6]. - It also publishes multiple ESG innovation indices to provide investors with more options regarding corporate ESG performance [3][6].

Core Viewpoint - The 2025 China Enterprise ESG "Golden Responsibility Award" aims to recognize companies and institutions that have made significant contributions to ESG initiatives in China, reflecting a shift from voluntary practices to compliance requirements in ESG performance [1][18]. Group 1: Award Categories and Winners - The award includes ten categories: Best Environmental Responsibility Award, Best Social Responsibility Award, Best Corporate Governance Responsibility Award, Best Responsibility Initiative Award, Annual Sustainable Development Award, Best Responsible Investment Bank Award, Best Responsible Investment Securities Company Award, Best Responsible Investment Insurance Company Award, Best Responsible Investment Fund Company Award, and Best Responsible Investment Asset Management Institution Award [1][18]. - The Best Environmental Responsibility Award winners include: Sungrow Power Supply, Industrial Fulian, Kweichow Moutai, Geely Automobile, Haier Smart Home, Hisense Visual Technology, Linyang Electronics, Tongwei Co., Weichai Power, and Luxshare Precision [10][28]. - The Best Social Responsibility Award winners include: China Shenhua, China General Nuclear Power, China Resources Sanjiu, Sinopec, Shougang, Wuliangye, Yangtze Power, China Telecom, China Oilfield Services, and LONGi Green Energy [10][28]. - The Best Corporate Governance Responsibility Award winners include: Zijin Mining, SF Holding, ZTE Corporation, Industrial Fulian, JA Solar, Sany Heavy Industry, Nanjing Steel, Bright Dairy, TCL Zhonghuan, and Fuyao Glass [10][28]. - The Best Responsibility Initiative Award winners include: FiberHome Technologies, Wens Foodstuff Group, Haitian Flavoring and Food, Aier Eye Hospital, Yunnan Baiyao, Anker Innovations, Kingfa Sci. & Tech., Huatai Securities, Silex, and Hainengda [11][28]. - The Annual Sustainable Development Award winners include: China General Nuclear Power, Sungrow Power Supply, Kweichow Moutai, Contemporary Amperex Technology, Zijin Mining, Hikvision, Yili, Baosteel, Chint Electric, and China Mobile [11][28]. Group 2: Responsible Investment Awards - The Best Responsible Investment Bank Award winners include: Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank, China Merchants Bank, Industrial Bank, and Bank of China [11][28]. - The Best Responsible Investment Securities Company Award winners include: Guotai Junan, Everbright Securities, CITIC Securities, Huatai Securities, and CICC [12][28]. - The Best Responsible Investment Insurance Company Award winners include: China Life Insurance, China Ping An, China Pacific Insurance, China Re, Sunshine Insurance, and China Life [13][28]. - The Best Responsible Investment Fund Company Award winners include: Bosera Funds, Southern Fund, China Asset Management, Penghua Fund, Huitianfu Fund, and E Fund [14][28]. - The Best Responsible Investment Asset Management Institution Award winners include: China Life Asset Management, Huaxia Wealth Management, Xingyin Wealth Management, Taikang Asset, Taikang Asset, and Galaxy Investment [15][28]. Group 3: ESG Development Context - By 2025, China's ESG development has transitioned from "setting standards" to "strengthening regulations," with a comprehensive disclosure standard system being established [1][18]. - The ESG performance of enterprises is now a compliance requirement, linking commercial value with social value [1][18]. - The ESG rating center aims to promote sustainable development and responsible investment, enhancing the ESG performance of listed companies [17][34].

Group 1 - The core point of the news highlights the top short-selling ratios and amounts for various companies, indicating significant market sentiment towards these stocks [1][2]. - AIA Group Limited (友邦保险-R) and Anta Sports Products Limited (安踏体育-R) both have a short-selling ratio of 100.00%, indicating a high level of bearish sentiment [1][2]. - The top three companies by short-selling amount are Alibaba Group Holding Limited (阿里巴巴-W) with 4.031 billion, Tencent Holdings Limited (腾讯控股) with 2.553 billion, and Alibaba Health Information Technology Limited (阿里健康) with 1.776 billion [1][2]. Group 2 - The top short-selling ratio rankings show that AIA Group Limited (友邦保险-R) leads with a short-selling amount of 1.9534 million and a ratio of 100.00% [2]. - JD.com, Inc. (京东集团-SWR) has a short-selling ratio of 99.19% with a short-selling amount of 0.6316 million, indicating strong market pressure [2]. - The deviation values indicate that JD.com (京东集团-SWR) has the highest deviation at 44.47%, suggesting significant divergence from its historical short-selling average [2].

Core Viewpoint - The article highlights the ongoing trend of insurance capital actively increasing their equity investments, with significant recent activities including the acquisition of shares in Shanghai Airport by Taibao Life Insurance, indicating a robust wave of insurance capital entering the market in 2026 [2][3][5]. Group 1: Recent Acquisitions - On January 9, Taibao Life Insurance increased its stake in Shanghai Airport by acquiring 72.424 million shares, raising its total holdings to 124 million shares, which constitutes approximately 5.00% of the company's A-share capital [2][3]. - Prior to this acquisition, Taibao Life Insurance and its asset management subsidiary held 51.9917 million shares, representing a 2.09% stake [3]. - The total value of Taibao Life Insurance's holdings in Shanghai Airport is approximately 4.067 billion yuan, accounting for 0.15% of the company's total assets as of Q3 2025 [3][4]. Group 2: Insurance Capital Trends - In December 2025, Ping An Life Insurance also made significant acquisitions, reaching a 20% stake in Agricultural Bank of China and China Merchants Bank, triggering mandatory disclosure [5]. - The frequency of insurance capital triggering the 5% disclosure threshold has become a notable trend in 2025, with a total of 36 instances recorded, surpassing previous highs [5][6]. Group 3: Equity Asset Allocation - As of Q3 2025, the total equity asset allocation by life and property insurance companies reached 5.59 trillion yuan, marking a 35.92% increase year-on-year [7]. - The equity asset allocation ratio for insurance companies has reached a historical high, with stock allocations accounting for 10% of total assets and combined stock and fund allocations exceeding 15% [7]. - Ping An Life Insurance reported an equity asset balance of 1.5 trillion yuan, which is 27.00% of its total assets, up from 19.81% in the previous year [7]. Group 4: Market Outlook and Investment Sentiment - The article notes that insurance capital is motivated by a low interest rate environment and new accounting standards, leading to a greater need for equity asset allocation [8]. - A survey of insurance investment officers indicates a prevailing sentiment that opportunities in the market outweigh risks, with over 70% planning to continue increasing equity allocations [8][9]. - The trend of reallocating assets in a declining interest rate environment is expected to further drive insurance capital towards equity investments, fostering a positive cycle of market recovery [9].

Market Overview - The Hang Seng Index (HSI) closed at 26,783.18, down by 216.63 points or 0.80% as of January 14, 16:00 Eastern Time [1] - The index reached a high of 26,918.58 and a low of 26,724.89 during the trading session, with a trading volume of 82.41 million [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 127.501, up by 0.39% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 632.594, down by 0.06% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) latest price is HKD 633.000, with an increase of HKD 5.500 or 0.88%, but its ADR price is HKD 632.594, showing a decrease of HKD 0.406 [3] - Alibaba Group (09988) latest price is HKD 169.000, up by HKD 9.100 or 5.69%, with an ADR price of HKD 165.595, down by HKD 3.405 [3] - HSBC Holdings (00005) latest price is HKD 127.000, up by HKD 0.600 or 0.47%, with an ADR price of HKD 127.501, up by HKD 0.501 [3] - Other notable movements include Meituan (03690) down by 3.24% and Ctrip Group (09961) down by 6.49% [3]

Group 1 - The core focus of the article is on the rising trend of insurance claims in China, highlighting the increasing number of claims and payout amounts across various insurance companies, with a high claim approval rate maintained above 99% [1][2] - In the first eleven months of 2025, the insurance industry reported a premium income of 5.76 trillion yuan, a year-on-year increase of 7.56%, while claims paid out reached 2.21 trillion yuan, up 5.95% [2] - Major players like China Life and Ping An Life have shown significant growth in claims, with China Life processing over 62.24 million claims and a total payout exceeding 100.4 billion yuan, marking a 10% increase [2] Group 2 - The improvement in claims processing efficiency is attributed to technological advancements, with companies utilizing AI and data analytics to streamline the claims process, resulting in faster payouts [3] - Despite advancements, there are still concerns regarding the perception of "difficult claims," primarily due to issues such as incomplete health disclosures by consumers and misunderstandings of policy terms [3][4] - The disparity between the high incidence of critical illnesses and the inadequate coverage provided by critical illness insurance is highlighted, with significant gaps in protection against high medical costs [5][7] Group 3 - The report indicates that medical insurance claims are the most frequent, while critical illness insurance accounts for the highest payout amounts, revealing a structural difference in their functions [6] - The average treatment cost for cancer ranges from 220,000 to 800,000 yuan, while the average payout for critical illness claims is only 100,000 yuan, indicating a substantial coverage gap [7] - Recommendations for consumers include prioritizing critical illness insurance for family breadwinners and considering medical insurance for younger individuals to mitigate large medical risks [7]

Core Viewpoint - The exclusive commercial pension insurance products have shown promising settlement interest rates for 2025, with a significant portion exceeding 3% and several surpassing 4% [1][3]. Group 1: Settlement Rates - A total of 67 accounts have settlement rates of 3% or higher, accounting for nearly 90% of the total [1]. - Among 38 exclusive commercial pension insurance products, the settlement rates for stable accounts range from 2% to 4.35%, while for aggressive accounts, they range from 2.5% to 4.55% [3]. - Three insurance companies have products with settlement rates of 4% or higher, with the highest rates being 4.35% for stable accounts and 4.55% for aggressive accounts from Agricultural Bank Life Insurance [4]. Group 2: Product Design and Strategy - Exclusive commercial pension insurance is designed with two phases: accumulation and payout, featuring a "guarantee + floating" yield model [3]. - The stable accounts are tailored for risk-averse clients, focusing more on fixed-income assets, while aggressive accounts have a higher allocation to equity assets [3][5]. - The dual-account structure allows for risk diversification and improved overall returns, leveraging long-term capital attributes for cross-cycle asset allocation [5]. Group 3: Market Development and Policy Support - The pilot program for exclusive commercial pension insurance began in June 2021 and expanded nationwide by March 2022, transitioning to a regular business model by October 2023 [6]. - Recent policies have emphasized the development of the third pillar of pension insurance, encouraging the creation of new products and enhancing the market for exclusive commercial pension insurance [6]. - To enhance competitiveness, insurance companies are encouraged to shift from a single financial product model to a comprehensive ecosystem solution, integrating health management and community services [7][8].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 盛瑞生 公司秘書 根據上市規則第 13.51B (2)條及第 13.51(2)(h)條作出之公告 本公告乃由中國平安保險（集團）股份有限公司（「本公司」，連同其附屬公司統稱「本 集團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 13.51B(2)條及第 13.51(2)(h)條作出。 茲提述聯交所於 2026 年 1 月 13 日刊發有關對星悅康旅股份有限公司（「星悅康旅」） （於聯交所主板上市之公司，股份代號：3662）、星悅康旅及／或中國奧園集團股份有限 公司（於聯交所主板上市之公司，股份代號：3883）之相關董事（「相關董事」）（其中 包括本公司外部監事（「外部監事」）洪嘉禧先生（「洪先生」））作出公開譴責之紀律 行動聲明（「該聲明」）。洪先生為星悅康旅的獨立非執行董事，同時擔任該公司董事會 的審核委員會主席、薪酬委員會主席，以及提名委員會成員。聯交所上 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 根據上市規則第 13.51B (2)條及第 13.51(2)(h)條作出之公告 本公告乃由中國平安保險（集團）股份有限公司（「本公司」，連同其附屬公司統稱「本 集團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 13.51B(2)條及第 13.51(2)(h)條作出。 茲提述聯交所於 2026 年 1 月 13 日刊發有關對星悅康旅股份有限公司（「星悅康旅」） （於聯交所主板上市之公司，股份代號：3662）、星悅康旅及／或中國奧園集團股份有限 公司（於聯交所主板上市之公司，股份代號：3883）之相關董事（「相關董事」）（其中 包括本公司外部監事（「外部監事」）洪嘉禧先生（「洪先生」））作出公開譴責之紀律 行動聲明（「該聲明」）。洪先生為星悅康旅的獨立非執行董事，同時擔任該公司董事會 的審核委員會主席、薪酬委員會主席，以及提名委員會成員。聯交所上市委員會（「上市 委員會」）發 ...